UPDATE: Berenberg Downgrades Syngenta (SYT) to Hold
- Market Wrap: U.S. Auto Sales Miss Mark in Feb.; Orexigen Rips on Contrave Update; PIMCO Outflows Slow
- Springleaf to Acquire OneMain from Citigroup (C) in $4.25B Deal
- After-Hours Stock Movers 03/03: (NPTN) (CECO) (SWHC) Higher; (CYCC) (BOBE) (TNET) Lower (more...)
- Bob Evans Farms (BOBE) Misses Q3 EPS by 10c; Cuts FY15 EPS Outlook
- PIMCO Total Return Outflows at $8.6B in Feb., Lowest Since Gross Left
Berenberg downgraded Syngenta (NYSE: SYT) from Buy to Hold.
Analyst John Philipp Klein said, "Syngenta’s share price has lost 12% over the past 12 months, driven by significant earnings downgrades of more than 20% for 2014 and 2015 EPS. We believe that Syngenta’s earnings outlook is challenged by further market-share loss in North American corn seeds, a cost base exposed to appreciating currencies, and a comparatively weak product pipeline. With a 2012-16E EPS CAGR of now only 4% and a delayed margin expansion, we think that Syngenta is fairly valued at 15.4x 2015 earnings – a multiple based on crop protection rather than seeds."
Shares of Syngenta closed at $72.57 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Macquarie Downgrades American Express (AXP) to Underperform
- UPDATE: Brunswick (BC) Guides FY16 EPS Below Expectations - Conf. Call
- Palo Alto Networks (PANW) PT Lifted to $165 at Credit Suisse Post Q2
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!